Faraday Plastics Leverages £22m for Plastics Sector Research

24 March 2005

In the past twelve months the Faraday Plastics and Polymers Partnership, the UK's plastics research and development facilitator, has succeeded in raising a total of some £22m in research funding for the plastics sector in the UK and Europe.

The figures have emerged as part of the Faraday Plastics end of year review.

Faraday Plastics Director, Richard Simpson, says that “the total size of this funding reflects an underlying dynamism in the research part of the sector and an underlying willingness for Governments, companies and institutions to commit funds to plastics. The success here also presents a convincing argument for more to be done”.

“Many areas of plastics-based research are simply waiting to happen - needing only for a kick-start in finance and a collaborative effort between partners to bring them into the production arena. I am pleased, but not surprised, that the total figure is at this value. We look forward at Faraday to continuing our efforts in assisting to leverage funding of this kind for the benefit of the UK plastics industry”.

Faraday Plastics chairwoman Rowena Sellens, global research director at Lucite International, says that “I would strongly urge other companies across the plastics industry to engage with Faraday Plastics both to help define future technology needs and find ways to deliver those. Only by working together across the industry and technology base will we achieve innovation success that truly sustains our industry’s competitiveness”.

Faraday Plastics enters the final year of its current three year period of DTI funding from April 2005. UK companies and academia are free to become affiliates and members and next year is likely to see an increased drive in that area.